Strategy

Photo: Fernando’s owner Fernando Padilla with CityLine location general manager Omar Hernandez.

Express Inc. has named a new CFO, and the retailer did not look far to fill the role.

Dallas -- X Team International announced that partner Venture Commercial Real Estate completed three retail anchor leases for landlords and tenants, totaling 110,000 sq. ft. across Texas.

Walmart signed a ground lease to build a 42,000-sq.-ft. Walmart Neighborhood Market store at the site of a former Brookshire Brothers at 1030 N. University Drive in Nacogdoches.

Hobby Lobby signed a lease to open a 50,200-sq.-ft. store at 2200 S. Loop 256 in Palestine.

New York -- Construction has just started on Facebook’s new data center, but the massive facility already has its own Facebook page.

The world’s largest social network announced that construction has started on its fifth data center, which will be powered by wind. The new center is located in Fort Worth, Texas, and joins Facebook’s four existing data hubs in Oregon, Iowa, North Carolina, and Sweden.

Today, nearly half of the world’s payment cards are EMV-enabled, meaning that the cards are embedded with special computer chips that help reduce counterfeit card fraud. The cards also protect retailers and consumers against losses caused by this fraud. The prevalence of EMV cards will only continue to increase with the upcoming liability shift in the U.S. in October, when merchants that are not EMV-compliant will be held liable for financial losses incurred from counterfeit card fraud.

Roanoke, Va. – Advance Auto Parts Inc. is shifting into high gear when it comes to finance. The retailer has been selected to join the prestigious Standard & Poor’s (S&P) 500 stock index at the close of business July 8, replacing Family Dollar Stores Inc.

New York -- Fresh off the opening of its store on the Upper East Side of Manhattan, Apple is opening another location in New York City.

The tech giant will open a store on July 11, in the Queens Center mall, in the borough of Queens, giving it a total of eight locations in the city.  

The Queens store will reflect the diversity of the surrounding community. It will feature some 130 associates fluent in 24 languages apart from English.
 

If you’ve been reading this column over the last four years, let me first say, “thank you!” It’s gratifying to think that my musings about retail and retail real estate have kept your attention and interest. In this, my 100th and final (except for an occasional contribution) Retail Rap, I wanted to tackle the big question: What’s next? Where is the retail industry — particularly brick-and-mortar — headed in the months and years ahead?